Brussels, 20/02/2015 (Agence Europe) - On Wednesday 18 February, the European Commission and the US Department of State met at senior official level to discuss new opportunities and the new steps needed to boost cooperation as part of the Transatlantic Economic Council (TEC). The parties will discuss specific proposals at a future TEC meeting later this year, alongside the negotiations for the transatlantic trade and investment partnership (TTIP).
Set up in 2007 at the request of EU and US leaders, the TEC brings trade and industry officials together on a regular basis from both sides of the Atlantic - as well as representatives from regulatory bodies, and EU and US science agencies - in order to discuss strengthening transatlantic cooperation on innovation and growth.
In 2011, the TEC set up a joint working group called the High Level Working Group on Jobs and Growth, which was responsible for assessing the feasibility of a transatlantic free trade agreement and outlining it. This led to the decision to open the TTIP negotiations, which were launched in 2013.
The European Commission states that the TEC has thus far enabled cooperation to be strengthened in a wide range of emerging sectors. Among its successes, the TEC can point to the development of common standards, test procedures and tools for promoting the universal compatibility and interoperability between electric vehicles, their charging equipment and the electric power supply infrastructure. It has also enabled a common education programme to be created to support employment in the health-IT sector, and innovation to be stimulated in the sustainable use of bio-based products.
The TEC is also where joint approaches are discussed regarding access to critical raw materials and using them responsibly. In addition, it is the place for discussing how to boost SME export performance. (Emmanuel Hagry)